1915. Offering of Reconstruction Finance Corporation 7/8 Percent Notes of Series R, Due January 15, 1942

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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No 1915 February Offering of Reconstruction Finance Corporation 7 g Percent Notes of Series R Due January Dated and bearing interest from February FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE UNITED STATES WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE Exempt both as to principal and interest from all taxation except surtaxes estate inheritance and gift taxes now or hereafter imposed by the United States by any Territory dependency or possession thereof or by any State county municipality or local taxing authority To all Banking Institutions and Others Concerned in the Second Federal Reserve District Secretary of the Treasury Morgenthau on behalf of the Reconstruction Finance Corporation is today offering for subscription at 100 and accrued interest through the Federal Reserve banks or thereabouts of Reconstruction Finance Corporation percent notes of Series R dated and bearing interest from February due January The terms of the offering are set forth in Treasury Circular No 602 dated February a copy of which is printed on the following pages The subscription books are now open and applications will be received by this bank as fiscal agent of the United States Subscriptions will not be received at the Reconstruction Finance Corporation Subscriptions should be made on official subscription blanks and mailed immediately or if filed by telegram or letter should be confirmed immediately by mail on the blanks provided Where such telegraphic or letter subscription is made by a bank the telegram or letter should contain the amounts of the subscriptions if any for the customers of the subscribing bank together with their names and addresses as provided for in the subscription blank GEORGE L HARRISON President RECONSTRUCTION FINANCE CORPORATION y 8 PERCENT NOTES OF SERIES R DUE JANUARY Dated and bearing interest from February FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE UNITED STATES WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE Exempt both as to principal and interest from all taxation except surtaxes estate inheritance and gift taxes now or hereafter imposed by the United States by any Territory dependency or possession thereof or by any State county municipality or local taxing authority TREASURY DEPARTMENT Department Circular No OFFICE OF THE SECRETARY Public Debt Service non Washington February I OFFERING OF NOTES 1 The Secretary of the Treasury on behalf of the Reconstruction Finance Corporation invites subscriptions at 100 4 and accrued interest from the people of the United States for notes of the Reconstruction Finance Corporation designated percent notes of Series R The amount of the offering is or thereabouts II DESCRIPTION OF NOTES 1 The notes will be dated February and will bear interest from that date at the rate of percent per annum payable on a semiannual basis on July and thereafter on January 15 and July 15 in each year until the principal amount becomes payable They will mature January and will not be subject to call for redemption prior to maturity 2 The notes will be issued under authority of an act of Congress known as Reconstruction Finance Corporation Act approved January as amended and supplemented which provides that the notes shall be fully and unconditionally guaranteed both as to interest and principal by the United States and such guaranty shall be expressed on the face thereof and that they shall be exempt both as to principal and interest from all taxation except surtaxes estate inheritance and gift taxes now or hereafter imposed by the United States by any Territory dependency or possession thereof or by any State county municipality or local taxing authority These notes shall be lawful investments and may be accepted as security for all fiduciary trust and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof 3 The authorizing act further provides that in the event the Reconstruction Finance Corporation shall be unable to pay upon demand when due the principal of or interest on notes issued by it the Secretary of the Treasury shall pay the amount thereof which is authorized to be appropriated out of any moneys in the Treasury not otherwise appropriated and thereupon to the extent of the amounts so paid the Secretary of the Treasury shall succeed to all the rights of the holders of such notes 4 The notes will be acceptable to secure deposits of public moneys but will not bear the circulation privilege 5 Bearer notes with interest coupons attached will be issued in denominations of and The notes will not be issued in registered form III SUBSCRIPTION AND ALLOTMENT 1 Subscriptions will be received at the Federal Reserve banks and branches and at the Treasury Department Washington Banking institutions generally may submit subscriptions for account of customers but only the Federal Reserve banks and the Treasury Department are authorized to act as official agencies Others than banking institutions will not be permitted to enter subscriptions except for their own account Subscriptions from banks and trust companies for their own account will be received without deposit but will be restricted in each case to an amount not exceeding one half of the combined capital and surplus of the subscribing bank or trust company Subscriptions from all others must be accompanied by payment of 10 percent of the amount of notes applied for The Secretary of the Treasury reserves the right to close the books as to any or all subscriptions or classes of subscriptions at any time without notice 2 The Secretary of the Treasury reserves the right to reject any subscription in whole or in part to allot less than the amount of notes applied for to make allotments in full upon applications for smaller amounts and to make reduced allotments upon or to reject applications for larger amounts or to adopt any or all of said methods or such other methods of allotment and classification of allotments as shall be deemed by him to be in the public interest and his action in any or all of these respects shall be final Allotment notices will be sent out promptly upon allotment and the basis of the allotment will be publicly announced IV PAYMENT 1 1 Payment at lOO and accrued interest if any for notes allotted hereunder must be made or completed on or before February or on later allotment In every case where payment is not so completed the payment with application up to 10 percent of the amount of notes applied for shall upon declaration made by the Secretary of the Treasury in his discretion be forfeited to the United States V GENERAL PROVISIONS 1 As fiscal agents of the United States Federal Reserve banks are authorized and requested to receive subscriptions to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury to the Federal Reserve banks of the respective districts to issue allotment notices to receive payment for notes allotted to make delivery of notes on full paid subscriptions allotted and they may issue interim receipts pending delivery of the definitive notes 2 The Secretary of the Treasury may at any time or from time to time prescribe supplemental or amendatory rules and regulations governing the offering which will be communicated promptly to the Federal Reserve banks HENRY MORGENTHAU Jr Secretary of the Treasury FEDERAL RESERVE BANK RFC ATS l NL OF NEW YORK ADVICE TO SUBSCRIBER U T DEPARTMENT Acknowledging Receipt of Cash Subscription For Reconstruction Fihance Corporation Obligations Mentioned Below To Application No Date r L J Your cash subscription for Reconstruction Finance Corporation Percent Notes of Series R Dated February Due January has been received by this bank as fiscal agent of the United States and pursuant to the provisions of the Treasury Department s circular offering the above mentioned obligations of the Reconstruction Finance Corporation allotment notices will be sent out promptly upon allotment and allotments will be made on the basis and up to the amounts indicated by the Secretary of the Treasury to this bank Checked by FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States FEDERAL RESERVE BANK OF NEW YORK To RFC ATS 2 NL SECURITIES DEPARTMENT QC nOn Application No Date Cash subscription received from above subscriber for Reconstruction Finance Corporation Percent Notes of Series R Dated February Due January AMOUNT ALLOTTED FEDERAL RESERVE BANK OF NEW YORK FC ATS 3 NL SECURITIES DEPARTMENT CONTROL RECORD Application No Date Cash subscription received from above subscriber for Reconstruction Finance Corporation Percent Notes of Series R Dated February Due January Lot Number Application Number FEDERAL RESERVE B A N K OP N E W YORK Fiscal Agent of the United States NOTICE OF ALLOTMENT On Cash Subscription to Reconstruction Finance Corporation Obligations Applied for by Subscriber as Described Below To Subscriber 1939 Referring to your subscription numbered as above indicated for par value RECONSTRUCTION FINANCE CORPORATION PERCENT NOTES OF SERIES R DATED FEBRUARY DUE JANUARY IS 1942 for which you have applied under the provisions of the Treasury Department s circular containing the offering of such securities for subscription you have been allotted by the Secretary of the Treasury of the amount applied for IMPORTANT INFORMATION FOR SUBSCRIBER 1 To expedite delivery of the securities of this issue allotted to subscriber and to facilitate prompt completion of this transaction please observe the following directions and fill in sign and return immediately the attached letter of instructions to the Federal Reserve Bank of New York Fiscal Agent of the United States New York N Y Payment by Check Cash or Charge 2 On or before the date of this issue payment must be made or completed at 100 4 or at lOO1 and accrued interest if payment is to be made after the date of this issue for the securities allotted to subscriber as stated above and payment therefor may be made by check cash or charge as follows By Check A check tendered in payment should be made payable to the order of the FEDERAL RESERVE BANK OF NEW YORK FISCAL AGENT OF THE UNITED STATES and the proceeds thereof must be immediately available on the date that payment is due but such check need not necessarily accompany the attached letter of instructions The proceeds of a check tendered in payment by subscriber on the date of this issue drawn on the Federal Beserve Bank of New York will be immediately available on the date of this issue Should a subscriber wish to make payment by certified check on any other bank the securities can not be delivered until the Federal Eeserve Bank of New York fiscal agent of the United States receives the proceeds of such check and therefore such subscriber should tender such certified check at least 2 days prior to the date payment is due if he wishes delivery of the securities on the date of this issue By Cash Payment may be made in cash By Charge A member bank may make payment by requesting us to charge its reserve account or a nonmember clearing bank may make payment by requesting us to charge its clearing account Delivery 3 a Delivery of the securities of this issue will be made at the Federal Reserve Bank of New York at its head office in New York N Y and will not be made before the issue date b Securities of this issue allotted to subscriber will be delivered over the counter to a representative of the subscriber only when a letter of authority signed officially by the subscriber identifying such representative is presented by him c Securities of this issue allotted to subscriber will be delivered to others under special instructions from subscriber but only when such securities are either the sole property of the subscriber or are the property of its customers who have authorized the subscriber in writing to cause their said securities to be so delivered Further Instructions 4 a Securities of this issue will be held for safekeeping by or delivered to the Discount Department of the Federal Reserve Bank of New York for the account of member banks only provided such securities are the sole property of the member bank b It is requested that all blank spaces be typed in where necessary on the attached letter of instructions to this bank and that such letter be signed officially and returned to this bank without delay FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Checked by NA RFC N Lot Number Application Number LETTER OF INSTRUCTIONS To FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States New York N Y From Name and address of Subscriber 1939 Referring to our subscription numbered as above indicated for par value RECONSTRUCTION FINANCE CORPORATION PERCENT NOTES OF SERIES R DATED FEBRUARY DUE JANUARY for which we applied under the provisions of the Treasury Department s circular containing the offering of such securities for subscription we have received your notice of allotment stating that we have been allotted by the Secretary of the Treasury of the amount applied for As requested we are sending you the following instructions Issue in the following denominations the securities of this issue allotted to us Payment for such securities will be made or completed as indicated below Pieces Denominations Par amount Method of payment LEAVE BLANK X X X By charge to our reserve account By cash By cheek X X X Total Hold or dispose of the securities of this issue allotted to us in the amounts and as indicated below 1 Hold for safekeeping for member bank only 2 Hold as collateral security for War Loan Deposit Account 3 Deliver to your Discount Department 4 Deliver over counter to the undersigned 5 Ship to the undersigned 6 Deliver as requested in the following special instructions Dispose of such payment as follows Against payment of Par amount TO Credit our reserve account We hereby certify a that such securities as you are instructed to hold or to deliver as indicated in items numbered 1 and 3 above are the sole property of the undersigned bank or trust company o that such securities as are hereby pledged as indicated in item numbered 2 above are either the sole property of the undersigned bank or trust company or are the property of its customers who have authorized the undersigned bank or trust company in writing to cause their said securities to be so pledged and c that such securities as you are instructed to deliver as indicated in item numbered 6 above are either the sole property of the undersigned bank or trust company or are the property of its customers who have authorized the undersigned bank or trust company in writing to cause their said securities to be so delivered is letter of instructions must be signed officially in the space provided here and returned immediately to Name of Subscriber Please print By Fiscal Agent of the United State Title Official signature Federal Reserve Bank of New York Street address City Town or Village and State DO NOT USE SPACES BELOW Received from FEDERAL RESERVE BANE OF NEW YORK the above described in from Vault ted Delivery Receipt Paid Stamp eased Amount Reconstruction Finance Corporation obligations allotted in the amount indicated above Subscriber i d By Date By RFC N FEDERAL RESERVE B A N K OF N E W YORK Lot Number Application Number IB Fiscal Agent of the United States CASH SUBSCRIPTION BY OTHER THAN A BANKING INSTITUTION To Reconstruction Finance Corporation Obligations Described Below Dated at 1939 An application unless made by a banking institution must be accompanied by payment of 10 percent of the amount applied for Subscriptions can be made only for 1 000 or in multiples of FEDERAL KESEBVE BANK OF NEW YORK Fiscal Agent of the United States New York N Y DEAR SIRS Pursuant to the provisions of Treasury Department Circular No 602 dated February please enter our my subscription for par value RECONSTRUCTION FINANCE CORPORATION PERCENT NOTES OF SERIES R DATED FEBRUARY DUE JANUARY We I agree in consideration of the receipt by you of this subscription to make payment in full for the entire amount which may be allotted on this subscription at 100 4 on or before the date of issue or at 100 4 and accrued interest if on later allotment If such payment is in excess of the amount deposited with this application the balance of the payment due you will be made by the undersigned or name in the manner indicated below By check By cash This is a confirmation of a previous subscription WriteYe Write No Subscriber Print name Sign here Official Signature Required Street address City Town or Village and State SPACES BELOW ABE FOB THE USE OF THE FEDERAL EESEBVE BANK OF NEW YOBK EXAMINED Allotment CAIID D CLASSIFIED ACKNOWLEDGED LEDGER DISPOSITION Payment Figured Checked Advised Deposit Date Date Released By By Cash By Check Check No Received Cheeked Interest Checked Drawn on Recorded Window Custody Mail BTC RFC N FEDERAL BBSHBVE B A N K OP N E W Y O B S Lot Number Application Number Fiscal Agent of the United States c Cash Subscription by Banking Institution To Reconstruction Finance Corporation Obligations Described Below Dated at 1939 FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States New York N Y DEAR SIRS Pursuant to the provisions of Treasury Department Circular No 602 dated February please enter subscription as follows for RECONSTRUCTION FINANCE CORPORATION PERCENT NOTES OF SERIES R DATED FEBRUARY DUE JANUARY For onr own account not classified below For our customers classified below Total Subscription CLASSIFICATION OF CUSTOMERS SUBSCRIPTIONS Subscriptions can be made only for 1 000 or in multiples of 1 000 For example Class A 10 at To SUBSCRIBER DO not show on this form denominations of securities of this issue to be desired on allotment CLASS A Subscriptions of 1 000 Amount Number of of Each Subscript s Leave Blank CLASS Bl CLASS B2 CLASS C Subscriptions over 1 000 to 5 000 Inclusive Subscriptions over 5 000 to 10 000 Incl Subscriptions over 10 000 to 50 000 Incl Amount Number of 1 Amount Number of 1 Amount Number of of Each Leave Blank Subscript s of Each Leave Blank Subscript s 1 of Each Subscript s Leave Blank at at at at at at at at at at at at at at at at at CLASS D Subscriptions over 50 000 to 100 Number of Amount Subscript s of Each Leave Blank CLASS E Sub s over 100 0 Amount Number of of Each Subscript s 1 Leave Blank CLASS F Sub s over 500 CK Number of 1 Amount Subscript s 1 of Each Leave Blank CLASS G Subscriptions of over Number of 1 Amount Subscript s 1 of Each Leave Blank at at at at at at at at at at at at at at at at at at at at at at at at We hereby certify that we have received applications from our customers in the amounts set opposite the customers names on the attached list which is made a part of this subscription that there has been paid to us by each such customer not subject to withdrawal until after allotment and payment in full for securities allotted 10 percent of the amount applied for that each such application to the best of our knowledge and belief is made in good faith for the customer s legitimate requirements and that we have no beneficial interest therein We further certify that our capital and surplus not including undivided profits reserves etc is We agree in consideration of the receipt by you of this subscription to make payment in full for the entire amount which may be allotted on this subscription at 100 4 on or before the date of issue or at 100 4 and accrued interest if on later allotment Such payment will be made by the method indicated hereon By debit to our reserre aeeount By eheek D Before gigning fill in all required pace TO SUB8CBTBTEB Mark X In proper spaa to indicate if tfci i Name of Banking Institution Original subscription Confirmation of a telegram Confirmation of letter By Q Q Title Official signature Address LJ City Town or Village and State 8PAGE8 BELOW ABE JOB THE TT8E OP THE FEDEBAL BEBEBVE BANK Kxamined Carded Figured Allotment Received Classified Check Ledger Checked Advised Recorded Acknowledged Method of Payment Window Disposition Government Deposit Amount Custody Date Released Mail By Other Departments List of customers applications included in the foregoing subscription entered and certified by Name of Banking Institution Post office address Name of Customer Please print or use typewriter Address State Amount Subscribed